Talk Talk Interim Management Statement – Third Quarter FY 2012/13 – MVNO Subs = 152,000

Third quarter results reveal growth in mobile, fibre broadband and YouView TV service

TalkTalk’s mobile base has increased by 35,000 in the third quarter of its financial year, taking its total number of connections to 152,000 with around half on pre-pay.

10,000 total net adds driven by strong growth in on-net customer base
80,000 TV subscribers at 31st December 2012 with growing momentum in Q4
Continuing improvement in on-net churn to 1.5% (Q2 FY13: 1.6%)
Reiterating FY13 financial guidance and medium-term targets

The company, who are primarily an internet and landline provider, runs a Vodafone-based MVNO which it sells into its existing customer-base.

Financial Highlights

On-net revenue up by 5.8% year on year to £292m; (Q3 FY12: £276m)
Corporate revenue up by 1.3% year on year to £80m; (Q3 FY12: £79m)
Total revenue down to £415m (Q3 FY12: £422m) driven by ongoing fall in off-net revenue
On-net ARPU up by 1.7% year on year to £25.47; (Q3 FY12: £25.05)

Operating Highlights

69,000 fully unbundled net adds (Q2 FY13: +66,000)
c30% of TV subscribers new to TalkTalk with balance upsold from Essentials and Plus
35,000 new mobile customers added, taking base to 152,000
22,000 new fibre customers added, taking base to 52,000
25% growth year on year in data products revenues at TalkTalk Business
Complaints to Ofcom down 48% year on year

Dido Harding, Chief Executive of TalkTalk commented: “We have returned our total customer base to growth for the first time in three years – an important milestone on our journey to become a growing and more profitable business. We successfully launched TV and mobile handsets this summer and the growth in take-up by both existing and new customers underlines the scale of opportunity we see in these additional products. With good trading momentum across the business, we have entered the final quarter strongly focused on execution. We are confident of delivering full-year results in line with our guidance, and are making real progress towards our medium term targets of 2% revenue growth and 25% EBITDA margin.”

There will be a conference call for analysts and investors starting at 8am.

Call details:
UK & International: +44 (0) 20 3139 4830
UK Toll Free: 0808 237 0030
Pin code: 29510818#

Webcast: http://www.talktalkgroup.com/investors/results-centre.aspx

Replay (available for 7 days):
UK & International: +44 (0) 20 3426 2807
UK Toll Free: 0808 237 0026
Pin code: 636295#

Analyst and investor enquiries Media enquiries
Mal Patel +44 (0)203 417 1037 Mark Schmid +44 (0)75 1503 4676

Download the Official q3-results-2013 (pdf)

Talk Mobile
Originally, Talk Mobile was Mobile World, which was launched in April 2005, and rebranded in 2008. Talk Mobile is a part of the Carphone Warehouse Group.
MVNO; Networks: Vodafone; Services: Pre+postpaid; Status: Active

Talk Talk
Part of the Carphone Warehouse Group.
MVNO; Networks: Vodafone; Services: Pre+postpaid; Status: Active

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Image Credit; Logo © Talk Talk Group

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